Healthcare Chatbots Market

Healthcare Chatbots: High Demand for Conversational Platforms as Suppliers Integrate Capabilities Offered by Conversational AI into Healthcare Chatbots

NEW YORK, NEW YORK, UNITED STATES, April 5, 2023 /EINPresswire.com/ -- The “Healthcare Chatbots Market” is expected to grow at a CAGR of 21% from 2020 to 2030. Chatbots are AI-powered computer programs that can simulate conversation with humans. Healthcare chatbots are designed to provide assistance to patients, medical professionals, and other stakeholders in the healthcare industry.

These chatbots can help in diagnosis, prescription of medicines, and other medical advice. The healthcare chatbots market is growing at a rapid pace due to the increasing adoption of AI and machine learning in healthcare. The COVID-19 pandemic has accelerated the adoption of healthcare chatbots as it allows healthcare providers to provide remote assistance to patients. The increasing demand for self-care and patient engagement solutions is also driving the growth of the healthcare chatbots market.

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Healthcare Chatbots Market Dynamics
Technological advancements: The healthcare chatbots market is driven by advancements in natural language processing, machine learning, and artificial intelligence technologies, which enable chatbots to provide more personalized and accurate health advice to patients.

Virtual health services: The COVID-19 pandemic has accelerated the adoption of virtual health services, including chatbots, as patients seek more convenient and cost-effective ways to access healthcare.

Healthcare costs: The rising costs of healthcare are driving demand for chatbots as a way to improve patient engagement and reduce the burden on healthcare providers.

Patient engagement: Healthcare chatbots are becoming increasingly popular as a tool for improving patient engagement and promoting self-care. Chatbots can provide patients with personalized health advice, monitor their symptoms, and provide reminders about medications and appointments.

Regulatory policies: The healthcare chatbots market is subject to regulatory policies related to data privacy, security, and patient safety. Changes in regulations can impact the development and adoption of chatbot technologies in healthcare.

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Market Segmentation:
Based on the deployment model, the healthcare chatbots market is segmented into cloud-based and on-premise chatbots. The cloud-based chatbots segment is expected to grow at a higher CAGR as it offers greater flexibility, scalability, and cost-effectiveness. Based on the application, the market is segmented into symptom checking and triage, medication assistance and adherence, mental health and wellbeing, and others. The symptom checking and triage segment is expected to dominate the market due to the increasing demand for remote healthcare services.

Solution
• Chatbot Platforms
• Services
• Development Services
• Integration Services
• Support Services
Type
• Scripted Chatbots
• Contextual Chatbots
• Messaging Chatbots
• Others
Application
• Medical Data Repositories
• Personal Assistance
• Automated Patient Support
• Marketing and Sales
• Others

Regional Analysis:
North America is expected to dominate the healthcare chatbots market due to the high adoption of AI and machine learning in the region. The presence of major players such as IBM Corporation, Microsoft Corporation, and Google LLC is also driving the growth of the market. Europe is expected to grow at a significant pace due to the increasing demand for self-care and patient engagement solutions. The Asia Pacific region is also expected to grow at a significant pace due to the increasing adoption of technology in the healthcare industry.

Competitive Landscape:
The healthcare chatbots market is highly competitive with the presence of several global and regional players. Some of the key players in the market include Nuance Communications, Inc., Google, Amazon Web Services, Inc., Artificial Solutions, IBM, SnatchBot, Acquire, Floatbot, Botsify, Chatfuel, ChatterOn, Smartloop. These players are focusing on product innovation, partnerships, and mergers and acquisitions to strengthen their market position.

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Recent Developments:
• In March 2022, the global healthcare chatbots market was valued at USD 159.8 million and is expected to grow at a CAGR of 21.9% from 2022 to 2030, according to a report by Grand View Research.
• In September 2021, a study published in the Journal of Medical Internet Research found that chatbots can be effective tools for helping patients with mental health conditions. The study evaluated the effectiveness of a chatbot designed to help individuals with anxiety and depression and found that it was associated with improvements in symptoms and increased engagement with mental health care.
• In August 2021, the Mayo Clinic launched a chatbot to help patients find COVID-19 vaccine appointments. The chatbot, which is available on the clinic's website and through social media, uses natural language processing to help patients find available appointments and answer questions about the vaccine.

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